Greystone Plans Major
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Virginia Governor Jim Gilmore, James City County and its Economic Development Authority are pleased to jointly announce that Greystone, a Rhode Island-based metal products manufacturing company, will make a major expansion at its Toano plant in James City County later this year. Officials report that Greystone will both significantly expand its heat treating and plating operations and add an entire precision machining division there. Upon completion, the project will create an additional $8.5 million capital investment and will add between 50 and 60 new manufacturing jobs at Greystone's 90,000-square foot facility. According to Greystone's Chief Financial Officer Norman F. Chartier, this expansion has been a part of the company's business plan from the Virginia plant's inception, awaiting the right combination of events. "Our James City County facility has had several good years serving a growing Mid-Atlantic customer base," said Chartier. "With the recent addition of yet another major customer and the favorable business climate we have experienced in Virginia, it is now the right time to proceed." Siemens Automotive in neighboring Newport News has and will continue to be a major customer of Greystone's. Virginia Governor Jim Gilmore noted, "This announcement constitutes a major corporate commitment on Greystone's part. We are pleased that its business experiences in Virginia and James City County led to this decision to continue to grow and prosper here." "Greystone has been a good corporate citizen since they came to the County in 1992, brought an industrial building that had fallen into disrepair, and brought it back to life," remarked James City County Stonehouse District Supervisor Andy Bradshaw. "Many of their 90 existing plant jobs are filled by County residents, and we hope the same will be true with the jobs Greystone will bring with this most recent expansion." |